Official COLA Statement Made Yesterday…

The big news around AARP this Friday is all about the announcement that for the first time since 1975, people who rely on Social Security will not receive a cost of living adjustment, because consumer prices have remained stagnant in this economic climate. The Washington Post covers the story here - and AARP is mentioned in the article, too.
AARP released a statement on Wednesday contending that the government should provide emergency relief to older Americans by way of a $250 one time payment. The reasoning? Seniors need to spend more money on healthcare than younger generations – and the cost of health care has been increasing rapidly over consumer prices. “Without relief, millions of older Americans will be unable to afford skyrocketing health care and prescription drug costs, as well as other basic necessities,” said AARP COO Tom Nelson in the statement.
AARP was also mentioned in all of these stories on the COLA announcement: get all the facts here: U.S. News and World Report, Bloomberg, AP, and Washington Times.
Other News of Interest…
I thought this blog post from CNBC was a good one – and might be useful to you if you’re planning for your retirement. The author lists five common mistakes that you may identify with – from listening to the wrong people to choosing the wrong pension. Check it out for his advice on making the decision to retire stress-free!